Delphi released its 2018 reserve book, one which appeared positive on the surface, with PDP, 1P and 2P reserves increasing by 1%, 17% and 27%, respectively, highlighting an expanded economic footprint in West Bigstone. However, with increased debt funded spending in 2018, including 4Q18e’s $15mm capital increase, these same markers degrade to -38%, -29% and -22%, respectively, on a per share, debt adjusted basis.
04 Mar 2019
2018 reserves showcase West Bigstone extension
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2018 reserves showcase West Bigstone extension
Delphi Energy (DEE:TSE) | 0 0 -1.1% | Mkt Cap: 167.0m
- Published:
04 Mar 2019 -
Author:
Cody R. Kwong -
Pages:
7
Delphi released its 2018 reserve book, one which appeared positive on the surface, with PDP, 1P and 2P reserves increasing by 1%, 17% and 27%, respectively, highlighting an expanded economic footprint in West Bigstone. However, with increased debt funded spending in 2018, including 4Q18e’s $15mm capital increase, these same markers degrade to -38%, -29% and -22%, respectively, on a per share, debt adjusted basis.